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The Slowdown Is Accentuated: Funcas Goes From Expecting A Growth Of 0.5% To A Fall Of 0.4% For The First Quarter

The economic recovery expected for 2021 is being asked. If the last Funcas panel predicted that the first quarter of the year would close 0.5% higher -a little better than 2020 closed, 0.4% higher – the situation has drastically changed sign soon. The new Funcas panel now expects the first three months of the year to close again in red, with a fall of 0.4%.

And it is not the only quarter in which the Funcas panelists cut their forecasts: the second will grow by 1.7%, the third by 2.9% and the fourth by 1.19%. In total, a growth of 5.9% by 2021, four tenths below from your previous forecast.

Funcas justice this cut “due to the deterioration of expectations in recent months and how little encouraging the indicators have been so far this year”. In addition, he explains, growth this year “will come from the hand of national demand, which will contribute six percentage points, while the foreign sector will subtract one tenth”.

The Panel collects for the first time the projections for 2022. The forecast is that the GDP will grow 5.6%, three tenths less than this year. However, half of the panelists expect an acceleration and the other half a deceleration. The contribution of national demand will be 5.1 percentage points and that of the foreign sector, five tenths, as a result of the expected recovery in tourism.

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